Europol disrupts a major criminal parallel banking network, seizing €4.5m and arresting 17 suspects in crypto-to-cash laundering fueling migrant smuggling and drug trafficking

The criminal network was involved in providing illicit financial services such as illegal hawala banking, cash courier activities, and converting cryptocurrencies into cash, primarily to launder money for migrant smuggling and drug trafficking groups. Investigators revealed that the network facilitated the movement of over €21 million in illicit funds and operated separate branches targeting different criminal communities…